During the next 12 months, Aurora Labs Limited and Fortescue Metals Group will join forces to explore metal 3D printing in mining industry.
For those who do not know them, Aurora Labs produces metal 3D printers, powders, digital parts as well as their associated intellectual property. As for Fortescue, the company specializes in the iron ore industry. The company develops infrastructure and mining assets.
Both companies signed a non-binding term sheet that includes an Industry Partner Program. The latter will enable Aurora to work directly with Fortescue on the Company’s 3D printing technology and demonstrate the potential for application of Aurora’s Rapid Manufacturing Technology (RMT) in the mining industry.
In the long run, Aurora might develop technology or processes that may reduce production and operation costs in the mining and resources sectors.
Speaking of this partnership, David Budge, Managing Director of Aurora Labs, commented: “We are building our Industry Partner Program with VEEM, DNV-GL, Advisian and Fortescue and it’s great to see some of Australia’s largest companies are keen to explore our technology. We see this as validation of what we are developing and it acknowledges the high potential that 3D printing has in transforming how parts are created and optimised.”
Whilst Aurora is optimistic that a more definitive arrangement may be reached, there is no assurance that any legally binding agreement will be entered into or that any matter contemplated by the Term Sheet will be completed.
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